Timah plans mining investment in Nigeria
Thursday, December 14 2017 - 01:37 AM WIB
IDX-listed tin giant PT Timah Tbk has signed an agreement with TopWide Venture Ltd for cooperation in carrying out feasibility and geological studies as well as initial exploration activity for planned development of tin and other mineral potentials in Nigeria.
Timah Director Alwin Albar said in a statement on Wednesday that the agreement was signed on Monday in Abuja, Nigeria.
?Later on, a joint venture company will be set up which will own and manage exploration, mining operation, processing and refining, transportation, and marketing of tin and other minerals in Nigeria,? he said in a filing with the IDX.
He added that construction activity will start after the joint venture company has been established.
Timah in 2014 set up new subsidiary called Timah International Investment Pte Ltd, which serves as a special purpose vehicle to facilitate its overseas expansion.
Editing by Reiner Simanjuntak